USDC

jekpopulous2

Yeah there’s a place for both. If you’re trying to stay off the grid XMR makes the most sense. If you have a large amount of crypto and don’t want the whole world to know - Railgun makes the most sense. I personally keep a separate Railgun wallet that I sell / spend / transfer from. If I (for example) spend USDC on something I definitely don’t want the recipient to see main wallet. It would make me a target. Instead I send the USDC from a delinked address. That way the recipient has no idea how much crypto I have. Which privacy protocol is best all depends on what you’re trying to do.

Tall_Run_2814

I do weekly DCA into Bitcoin and a bi-weekly DCA into USDC. I use the USDC to purchase during big pullbacks.

jawni

*let's see what fun and exciting stuff is happening in the world of cryptocurrency!* Elon Musk’s X removes crypto emojis, leaving community puzzled (cointelegraph.com) - **WHO CARES** Japanese Financial Giant Preparing for Approval of Bitcoin ETFs (headtopics.com) - **WHO CARES** Massive Sleeping Bitcoin Wallet From 2013 Moves 750 BTC After 11 Years, Valued at $48M (news.bitcoin.com) - **WHO CARES** / **ONLY HEARD THIS ABOUT A MILLION TIMES** Robert F. Kennedy Jr. blasts inflation as 'government theft' (finbold.com) - **WHAT DOES THIS HAVE TO DO WITH CRYPTO?** US senator withdraws support for Elizabeth Warren’s anti-crypto bill (cointelegraph.com) - **WHO CARES** Grayscale Ethereum ETF bleeds Thursday, outflows exceed $1 billion since debut (cryptobriefing.com) - **WHO CARES** Cryptominer with palm-sized $179 ASIC hits the jackpot with $206,000 in Bitcoin (tomshardware.com) - **WHO CARES** / **ONLY HEARD THIS ABOUT A MILLION TIMES** Blackrock foresees “very little interest” in crypto ETFs beyond Bitcoin, Ethereum (cointelegraph.com) - **WHO CARES** CZ is NOT getting released from U.S. prison next month (cryptopolitan.com) - **WHO CARES** New Jersey wants to invest city pension fund in crypto ETFs (cryptopolitan.com) - **WHO CARES** Cash, not crypto, still top funding choice for terrorists, Singapore reports (cointelegraph.com) - **WHO CARES** / **ONLY HEARD THIS ABOUT A MILLION TIMES** Russian ransomware generates over $500m in crypto proceeds, TRM Labs says (crypto.news) - **WHO CARES** / **ONLY HEARD THIS ABOUT A MILLION TIMES** Argentina wants to tame crypto market due to money-laundering concerns | Cyprus Mail (cyprus-mail.com) - **WHO CARES** / **ONLY HEARD THIS ABOUT A MILLION TIMES** At this rate, Grayscale's ETHE could run out of ether within weeks (theblock.co) - **STILL DON'T CARE** MARA purchases $100 million worth of bitcoin, holdings surpass 20,000 BTC (theblock.co) - **WHO CARES** Russia mulls launching tokens backed by cenbank-owned gold: report (crypto.news) - **ONLY HEARD THIS ABOUT A MILLION TIMES** USDT/USDC spending without EUR conversion (self.CryptoCurrency) - **Niche problem, irrelevant to most** VanEck Predicts Bitcoin to Skyrocket to $52.38 Million by 2050 in Bull Scenario (beincrypto.com) - **WHO CARES (HOPIUM EDITION)** Crypto miner Marathon Digital adds $100m in Bitcoin to reserves (crypto.news) - **STILL DON'T CARE** In harsh year for NFTs one group of ‘Made Mutants’ still believe in Yuga Labs’ future (dlnews.com) - **WHO CARES** Help with BEP2 changing your bep20 (self.CryptoCurrency) - **Niche problem, irrelevant to most** Alchemy Pay’s Advanced Banking Solution Enables Web3 Enterprises to Open Multi-fiat Accounts with… (alchemypay.medium.com) - **THINLY VEILED AD** Arbitrum Foundation’s proposal to deploy Orbit chains beyond Ethereum opens for initial vote. (theblock.co) - marginally interesting but largely irrelevant. Broad Lister Cryptoexchange Gate.io, Gives Up On Compliance Heavy Japan (observers.com) - **WHO CARES** Grayscale Ethereum Trust Sheds $327 Million in a Day as ETFs See Mixed Flows (decrypt.co) - **STILL DON'T CARE AGAIN**

Zelulose

MagicSea It think it might have the lowest fees to move BNB and USDT/USDC. 0.042 shimmer fee to swap which is currently $0.0048 per shimmer. Astronomically low.

ElPeroTonteria

I'm with you on this... I'll be looking for my exit sometime early/spring 2025. I'll have some $ left in USDC and leave it be till we're deep into winter next cycle. I got rekt during the doge/elmo thing... bought in early 2021 ahead of FTX... I averaged down, compounded staking rewards, slid some MOON over into BTC. I'm pretty much bags packed at this point w a little dry powder if we come back to the 50s again... I'll be BTC only after this cycle

biba8163

> Banker shitcoin XRP bagholders could only dream of this being a Banker Shitcoin. Banks has no interest in XRP. JP Morgan's paper about CDBC/Stablecoins is "UNLOCKING $120 BILLION VALUE IN CROSS-BORDER PAYMENTS" why banks have no interest in XRP: - **High volatility of XRP leading to limited willingness from banks in using it to facilitate payments** - **Relatively high costs owing to spreads between fiat and XRP** https://www.jpmorgan.com/onyx/documents/mCBDCs-Unlocking-120-billion-value-in-cross-border-payments.pdf?trk=article-ssr-frontend-pulse_little-text-block In 2024, Ripple itself also says Stablecoins provide revolutionary ways to transfer value across borders and reshape the financial world and Ripple is now using investor money to buy a company to launch their own stablecoin > Stablecoins like USDC offer a revolutionary pivot... efficiently transfer value across borders, bypassing traditional banking systems and eliminating many associated risks....Lower transaction costs compared to traditional banking. As low-fee alternatives to traditional money transfer methods, stablecoins can facilitate global transfers without foreign exchange fees. As the integration of stablecoins into the banking system continues, they promise to reshape the financial world, offering enhanced efficiency, inclusivity and innovation. This evolution is not just about adopting new technologies but is a step towards a more interconnected and resilient global financial system. https://ripple.com/reports/the-functional-evolution-of-digital-assets.pdf

Krepsilfisk

A creators blockchain is born! VITRUVEO VTRU price: 1.25 $ Bridge USDC from Polygon https://swap.vitruveo.xyz/

CointestMod

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

CointestMod

#DEX Con-Arguments Below is a DEX con-argument written by Shippior. > A Decentralized Exchange, often abbreviated to DEX, is an exchange that does not belong to a central entity and all transactions happen on a blockchain. The three largest DEXs by [Total Value Locked](https://cointelegraph.com/explained/what-is-total-value-locked-tvl-in-crypto-and-why-does-it-matter) (TVL) are [Curve Finance](https://curve.fi/#/ethereum/swap), [Uniswap](https://uniswap.org/) and [PancakeSwap](https://pancakeswap.finance/). For a full list of DEXs see this [dashboard](https://defillama.com/protocols/Dexes). > > A DEX requires a user to be very well versed in the working of crypto because the entire process takes place on-chain. First of all a uses needs to have a crypto wallet to start with trading and needs to have the correct assets in its wallet to interact with the DEX. Many DEXs lack the easy user interface that CEXs offer and provide hard to read technical documentation on how to use the DEX. Next to that customer support is often limited to the Discord server in which one hopes to find a developer that can help instead of a scammer that pretends to be a developer that runs off with all their assets. > > As can be seen in the dashboard that includes all DEXs above the number of DEXs is actually quite limited. Of the 10 DEXs that have the largest TVL 5 of them are on the Ethereum chain and 2 of them are on the Binance Smart Chain. Next to that Uniswap does almost 50% of all volume traded on DEXs by itself. Inspecting the dashboard more closely also reveals that liquidity is a problem for many DEXs. At the time of writing only 22 DEXs have a TVL of more than 100mill USD. [Coinbase claims to hold 39.9 billion USD of BTC alone](https://news.bitcoin.com/coinbase-ceo-says-company-holds-2-million-bitcoin-reminds-people-firms-financials-are-public/#:~:text=According%20to%20Coinbase%20CEO%20Brian,million%20bitcoin%20worth%20%2439.9%20billion.). Also still [96% of trading is done on CEXs](https://assets.kpmg/content/dam/kpmg/cn/pdf/en/2021/10/crypto-insights-part-2-decentralised-exchanges-and-automated-market-makers.pdf). This shows a large gap in liquidity between DEXs and CEXs. > > This lack of liquidity also introduces the risk of [slippage](https://coinmarketcap.com/alexandria/glossary/slippage). This means you buy or sell at a worse price than anticipated. When a trade is large compared to the available liquidity it can impact the available assets in a pool by a lot and thereby change the price. For example if a pool has 1 ETH and 1,500 USDC and a user wants to buy 0.1 ETH it means that he wants to take 10%of the available ETH in the pool. The user expects to pay 150 USDC for 0.1 ETH. However if there are 2 users that provide 0.05 ETH to the pool the order will be executed in 2 parts. First 0.05 ETH is bought for 75 USDC. However now the ratio is 0,95 ETH to 1,575 USDC which means that 1 ETH is not worth 1,658 USDC. The user pays 0.05*1,658 = 83 USDC for the other 0.05 ETH. Thus the user paid 158 USDC for 0.1 ETH instead of the expected 150 USDC. > > [Impermanent losses](https://academy.binance.com/en/articles/impermanent-loss-explained) are the most common type of risk for people providing liquidity in a liquidity pool. As liquidity is often added as a pair of 2 coins impermanent loss happens as one of the two coins largely changes in value compared to the other. When the value changes the pool is rebalanced to reflect this. This can lead to the assets in the liquidity pool being worth less than when the assets would have been held outside of the Liquidity pool, see this [example](https://blog.liquid.com/impermanent-loss). > > DEXs are made up entirely of software. This software is often made open source as a proof that the DEX has a fair working towards its users. However this also provides hackers all the information that they would require to look for an error that they can use to break the software and steal assets from the DEX. Although the software is thoroughly audited it can still provide vectors. Even worse than that it can happen that a DEX was made to rugpull its users from the start. An example of this phenomenon is [Sifchain](https://www.sifchain.finance/) a small DEX for Cosmos. At the end of last year it closed off all bridges to the chain such that the assets could not be transferred of the chain. The only way a user could take off any assets from the platform was to trade its assets versus the native coin of the token at a very high price which was pocketed by the owners of the DEX. > > Another challenge for DEXs is the availability to add fiat to buy crypto. For an exchange to accept cash there needs to be a counter party that wants to trade their crypto for fiat in a trustless way. As a user is only known to the DEX by its wallet ID, which does not accept cash. It is very difficult to provide fiat trades on a DEX for this very reason. Lately fiat on-ramps have been provided by parties like [KADO](https://www.kado.money/) and [Moonpay](https://www.moonpay.com/) where they offer to take your cash and trade it for crypto (essentially taking the role of over the counter market maker) but this requires larger fees than when using a CEX. However fiat off-ramps have not been widely seen, probably because market makers are afraid that users will dump their crypto on them when the market becomes volatile and they are stuck with the losses. > > A very US oriented disadvantage of a DEX is that trades are not easily registered for tax purposes. All transactions are of course registered on the block chain but that is not the format that is required by the IRS. Tools have been developed for the larger DEXs, for example [Koinly](https://koinly.io/blog/uniswap-taxes/) provides tax reports for Uniswap trades, to convert the information on the blockchain to a proper format for tax forms but they have to be checked manually to be certain that all trades are registered correctly which can be a very time consuming task. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find submissions for other topics.

millennial-snowflake

Personally I just use Coinbase and USDC for my buying/trading activity. They give over 5% APY for USDC holdings paid monthly like treasuries/bonds. You can boost that further with Coinbase One but I'm not playing them 30$/month.

cryptoAccount0

Just get a wallet and hold USDC or USDT. People are already doing this in foreign countries with high inflation. What you're describing is not sensible, considering there are better safer alternatives.

MagicMaker32

Ok, say you take your crumbling local currency and convert it into USDC, why bother with a BTC derivative to hold its value in USDC when you could skip that step? Likewise you could get a gold backed stable if you prefer that to hold your value? What advantage does the derivative give you that just holding the stable asset doesnt? You arent actually getting exposure to BTC, you are just doing a lot of steps to make sure you have the same amount of value in USD or Gold terms

MagicMaker32

Ok, but then why not just hold Tether or USDC or PaxG if you prefer? What advantage does the derivative give you?

jawni

because it's pretty insignificant compared to Visa's other partnerships in crypto. There is a big difference between: >SAN FRANCISCO--(BUSINESS WIRE)--Visa (NYSE: V), a global leader in payments, announced its next step in modernizing cross-border money movement. Visa is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain and is working with merchant acquirers Worldpay and Nuvei. >Through live pilots with issuers and acquirers, Visa has already moved millions of USDC between its partners over the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized over VisaNet. and >SAN FRANCISCO--(BUSINESS WIRE)--Visa (NYSE: V), a world leader in digital payments, today announced the launch of the Visa Web3 Loyalty Engagement Solution. The new value-added service ushers in the future of customer engagement and loyalty, helping brands meet next-generation customers where they increasingly are – in digital and virtual worlds – through immersive programs like gamified giveaways, augmented reality treasure hunts, and new ways to earn and burn loyalty points. It's analogous to if McDonald's were trying a new kind of beef versus a new toy in the Happy Meal, one has far more impact on the business itself.

coinfeeds-bot

tldr; Ferrari is expanding its cryptocurrency payment system to its European dealers network at the end of this month, following its launch in the United States last year. The Italian luxury sports car manufacturer plans to further extend this payment option to other international dealers in countries where cryptocurrencies are legally accepted by the end of 2024. This move comes in response to the demands of its wealthy customers, with most European dealers already adopting or in the process of adopting the new payment system. Ferrari initially partnered with BitPay in the U.S. to facilitate transactions in bitcoin, ether, and USDC, converting cryptocurrency payments into traditional currency immediately to protect dealers from price volatility. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

igoldring

Use QR code on coinbase to verify and send/receive, but honestly I would rather accept USDC then you can transfer it to ETH if you want. Also one test transaction, then all at once. No need to overspend on fees when the address is verified.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

Ghola_Mentat

I would ask for USDC instead. Should be easy enough for him to exchange it himself. Also, 1 test transaction and then send the rest in another. No need to do further incremental payments.

revyth

USDC depegged not long ago, because of banking collapse. We should not forget

Shaglock

Exit to USD then if you’re worried about the inflation then park your money in gold, if no then keep USDC then stake for safe yield

A_bit_blunt

Thanks everyone for the responses. You’ll be relieved to hear that am I also getting advice from adults who are not on reddit, but I really do appreciate everyone’s thoughts, it was a lot more objective and considerate than I expected! I’m going to put 50k in. I’ve put 10k in so far. Bank has stopped me from moving the rest so I’ll have to figure that out on the weekend. Then convert 25k to USDC and I aim to DCA from there. Might just watch the price for a bit though. I’m not going to sell if it goes down, even if it hits $2. I might take a little bit of profit if we hit 200k or something though. Like 10%. I’m going to look at leaving the rest in a high yield savings account or an ETF. If anyone has some threads or links that will help me better understand self ownership and security, I’d appreciate it. I understand it but am not really tech savvy so I’m keen for a simplified step by step breakdown. Thanks again, for all of your sakes I hope it takes off and I regret not going all in!

mrjune2040

It’s in USDC, not dollars.

MaximumStudent1839

> Let me start by defusing a potential concern: it is a blue ocean market. TON can be good and SOL can be good. I don't even know what you are talking about. Never once did I bring up SOL can't do well if TON do well. You are trying to insinuate my critique on TON is based on my SOL position. Well, buddy, you are fucking wrong. I am probably one of the most honest straight-talkers in this sub. I speak my mind based on facts and don't give a fuck about narratives created by mid-IQ OG whales, traders, and VCs. I regularly speak against stupid group think and mass bullshit. And it turns out, a lot of times market seem to agree with what I say in the long run. > TON isn't merely associated with Telegram, they're already integrated. -- Your statement misrepresents this. GTFO with your semantic BS. There is "no misrepresentation", The marketing spiel is they are related to Telegram. Your distinction of "integration" doesn't make any substantial change. > SOL is used for sh\*t coins mostly and it's wildly successful. Why would that count against TON? Ok, you are now trying to strawman now. lol > SOL is also more difficult to onboard than Telegram + TON.  GTFO. I can onboard via SOL on Coinbase via SOL/USDC and PayPal via PYUSD. TON has nothing close in terms of on-boarding or off-boarding rails back to Trad Fi. Ppl are more likely to trust connecting their bank details with regulated and publicly traded companies, like PayPal and Coinbase. You can't be serious if you want to argue Telegram, HQed in Dubai, instills more new user confidence than companies, like Coinbase and PayPal, regulated by the FTC. If new users can't trust your onboarding ramp, you are fucking toast. > Hamster Kombat that have 200 million active monthly users.  [https://www.youtube.com/shorts/8rW1BgmLrEI](https://www.youtube.com/shorts/8rW1BgmLrEI) Wow, congrats on boarding millions of third-world farmers tapping their lives out to farm this shit coin. Plenty of charts tell you where all this shit end ups in the long run.

McTerd

Spend ~1/2 now on BTC and throw the rest in a Coinbase USDC account paying 5.55%. Then DCA USDA -> BTC for the next ~6-12 months.

OXZOguide

One thing I’d recommend is to do a thorough review of whatever data/news you can and make sure the original reason you bought something is still valid. Recently just about everything was way down coinciding with some major sales of Bitcoin holdings in the billions of dollars. Just because they are down recently probably isn’t a good determining factor. Chances are whatever you switch into was similarly affected. If the original thesis that led you to buy hasn’t changed then there may not be a reason to sell. Then again if you question the original reason you got them there might be. I won’t recommend it one way of the other rather I’d suggest a methodological approach that is based on gathering data. Which is in fact what you are doing here bravo. Now one thing is if there is something you like better and they are also down with the German and Mt. Gox sell off then converting to that probably isn’t a bad idea. I noted another user parks stuff on a ledger. Happens that I do that too. If you can afford to HODL it that way he’s probably right. Examine your time horizon. I look near term and long term. In the long run somethings will go to zero while others are going to become institutions of sorts. It might be worth taking a chance that XRP for instance won’t zero out. I admit to holding a position in my Ledger as well. Of course I bought it during the recent downturn. I had also consolidated some positions before the market went sideways so I had USDC on hand to convert to new positions. Such as Aerodrome. If you go that route and want to hold into the 2030s I’d look at the long term staking there.

jtashiro

Suggestion - open coinbase account, setup a deposit channel with your bank, move to USDC and get 5.1% on your money. Then each day purchase the same $$ amount of BTC in a dollar-cost averaging strategy. Best way to make those purchases is not thru the UI, but with Coinbase Advanced Trade API. It may take a bit to learn python programming but once you setup, you're all set. Over time, perhaps quarterly move from coinbase to cold wallet to protect your assets and minimize the number of UTXOs in your cold wallet. Good luck.

Oheson

USDC and USDT run on multiple chains. The layer 1 is just a glorified TCP/IP and does not affect the price.

brkinard

USDC and USDT are tokens that run primarily on ETH....so you need ETH.

CointestMod

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

painkilleraddict6373

I convert USDC to euro.The fees are small if you use spot. You use USDC for exchanges with zero fees in most coins and then you convert from spot and sent. Binance has the same fees from crypto to currency.

vinsanity_07

You still have to sell to USDC tho

painkilleraddict6373

USDC has zero fees.Also, only exchange through spot.

Wakingupisdeath

Coinbase pro (the advanced feature). Use USDC to purchase and use a limit buy order.  This will greatly reduce fees. 

Illustrious_Bunch443

Coinbase and crypto.com allow free buys of USDC. Also coinbase gives a high yield on USDC.

pitchbend

You don't need to deal with a bank and the USDC in your own wallet can't be confiscated (you load the card on demand from your self custody wallet) unlike the USD in a bank account which can be frozen etc.

anythingapplicable

As far as i know, you can't really hedge against impermanent loss. For example (assuming eth is at 1000USDC), you provided 1000 USDC and 1 ETH to a LP. At time of withdrawal, (assuming ETH is now at 1500USDC), you withdraw 1100USDC + 0.9ETH. This is a loss of 0.1ETH which you have to buy back at 1500USDC which is 150 USDC worth, which means a realized loss of 50USDC to cover back the 1ETH loan which you have taken out. > In the current conditions USDc can be loaned for 7% and ETH borrowed for 4% creating a net 3% on the position It depends on the APY of the USDC/ETH LP. Note that **you do not earn any interest on collateral you provide**. If you need to borrow 500USDC worth of ETH, and you provide 1000USDC as collateral, you are effectively losing out on 7% apy on the 1000USDC you have provided, and have to pay 4% for the 500USDC worth of ETH which you have borrowed. If the USDC/ETH LP is having an APY of 100%, then yes it might be worthwhile. However, if the LP is only having an APY of only 10%, it really doesn't seem like a very good risk/reward ratio.

flicman

So why not just buy 1/3 the ETH and ignore the USDC? It's not like having USDC keeps ETH from dropping.

CryptoCrazyCat

Because Coinbase gives you 5% for holding USDC.

RLouisD

$1500 USDC = $500USDc collateral, 500USDc/500eth LP position.

anythingapplicable

Assuming you have 2000USDC as capital, your steps would be to 1. provide 1000 USDC as collateral to borrow 500USDC worth of ETH. 2. provide 500USDC + 500USDC worth of ETH to a LP. Total capital needed= 2000USDC. Costs = borrow costs of 500USDC worth of ETH, gas fees, impermanent loss. Profits = Profits from LP. Benchmark to beat = 4%APY of capital provided (2000USDC) As long you significantly beat the benchmark of 4% APY which most HYSA are providing, i don't see the risk/reward here being very lucrative. Most of the time, if the LP is providing really high APY's, the risk of impermanent loss and the cost of borrowing the more volatile asset will also be much higher.

bazkawa

Are you aware of the fees when sending USDC/USDT over Ethereum?

Logical_Lemming

If you borrow against your USDC, you can't use that same USDC to LP. Maybe I'm misunderstanding what you're asking.

bazkawa

What benefit is it to use a debit card with USDC instead of a debit card with USD?

flicman

What does "50% at approximately half of USDC's worth" mean? Converting $50 of your $100 to ETH?

AndyIbanez

My country has ran out of USD and this caused the price of this fiat currency to sky rocket in the parallel market. I’m currently using crypto to save my money by converting all my local currency (BoB) into USDC and USDT because finding actual dollars is impossible, but I can sell the USDC and USDT vía P2P to get local currency for much better rates.

Mr-Douglas

Of course - they spread this - frame it as an evil thing from China, to push USDC… bets are open

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by CreepToeCurrentSea. > [USDT](https://tether.to/en/transparency/) is a stablecoin (stable-value cryptocurrency) issued by Tether, a Hong Kong-based company. The token is pegged to the USD by keeping reserves of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills equal to the number of USDT in circulation. Initially named as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin's blockchain using the Omni platform, it was later renamed USTether and, finally, USDT. In addition to Bitcoin, USDT was later updated to work on the Ethereum, EOS, Tron, Algorand, and OMG blockchains. > > # PROs > > **USDT is well established** > > It has built a long history of resilience, reliability and trust because it has been around for a [while](https://www.wsj.com/articles/BL-MBB-23780) (around 8 years in the cryptocurrency market). This had helped to convince clients that the stablecoin is [legitimate](https://www.certik.com/projects/tether?utm_source=CMC&utm_campaign=AuditByCertiKLink). > > As of this year, USDT currently is in the top ten cryptocurrencies by [market cap](https://www.coingecko.com/en/coins/tether) with a 24-hour trading volume of around 45 billion dollars and a total number of addresses of up to 4.5 million. In its last known [audit](https://www.fairyproof.com/doc/111.pdf) in 2021 it has been considered to have *"No vulnerabilities with critical, high, medium or low-severity."* > > **Wide acceptance** > > Tether has multiple gateways for customers (retail, exchanges, and companies) because it is built on several leading [blockchains](https://tether.to/en/supported-protocols), including Algorand, Avalanche, Bitcoin Cash's Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Tezos, Tron, Solana, and Statemine. These transport protocols are made up of open source software that interfaces with blockchains to allow for the issuance and redemption of Tether tokens. > > Furthermore, it has been available on major exchanges such as Bitfinex, Binance, Coinbase, Kraken and [more](https://www.coingecko.com/en/coins/tether#markets), Offering a plethora of pairs for users to choose from or that of which is available in their region although as of lately some exchanges have been switching to Circle's USDC over growing concerns of legal issues related with Tether. > > **Buffer against volatility** > > One of the primary functions of stablecoins is to act as a [hedge](https://www.researchgate.net/publication/341245986_Are_stablecoins_truly_diversifiers_hedges_or_safe_havens_against_traditional_cryptocurrencies_as_their_name_suggests) when crypto markets are in a downturn. Because the aforementioned market is extremely volatile, traders and investors want some sort of buffer against this without having to directly trade their crypto for fiat as to also avoid larger fees as well. Supported by its large market capitalization, USDT should be less volatile and thus safer. > > **Announcement of a full audit** > > Tether's CTO Paolo Ardoino recently stated in an [interview](https://www.euromoney.com/article/2a8dpi4tnxahuu98a251c/fintech/cryptocurrencies-tether-is-open-to-providing-more-information) with Euromoney that the company is preparing for a full audit with an accounting firm called MHA Cayman (which also handles Tether's [quarterly assurance opinions/reports](https://assets.ctfassets.net/vyse88cgwfbl/1np5dpcwuHrWJ4AgUgI3Vn/e0dac722de3cea07766e05c52773748b/Tether_Assurance_Consolidated_Reserves_Report_2022-03-31__3_.pdf)). According to the CTO in the interview, MHA Cayman is one of the "*top 12*" accounting firms, and most top accounting firms deny requests for full audits due to the associated reputational risks. In the future, hopefully, this will provide more security and transparency to its users against the number of allegations and investigations it is currently facing. > > **Despite everything, USDT is still here** > > From the past legal troubles it has faced, the ones it's facing right now, the vast amount of criticisms from different facets off the internet and the several crypto winters it endured. USDT is still alive and kicking. Will it still be the top stablecoin in the next 5 years? Unlikely, but I am for certain it was a major part for the growth and expansion of crypto's fetal years. Moving forward it's up to them, the people behind Tether, if they will finally redeem themselves against all the allegations, criticisms, troubles, and not just do another settlement. > > ^(Sources:) > > [^(https://tether.to/en/faqs/)](https://tether.to/en/faqs/) > > [^(https://tether.to/en/supported-protocols)](https://tether.to/en/supported-protocols) > > [^(https://tether.to/en/transparency/)](https://tether.to/en/transparency/) > > [^(https://tether.to/en/transparency/#reports)](https://tether.to/en/transparency/#reports) > > [^(https://en.wikipedia.org/wiki/Tether\_(cryptocurrency))](https://en.wikipedia.org/wiki/Tether_(cryptocurrency)) > > [^(https://assets.ctfassets.net/vyse88cgwfbl/5UWgHMvz071t2Cq5yTw5vi/c9798ea8db99311bf90ebe0810938b01/TetherWhitePaper.pdf)](https://assets.ctfassets.net/vyse88cgwfbl/5UWgHMvz071t2Cq5yTw5vi/c9798ea8db99311bf90ebe0810938b01/TetherWhitePaper.pdf) > > [^(https://www.wsj.com/articles/BL-MBB-23780)](https://www.wsj.com/articles/BL-MBB-23780) > > [^(https://www.certik.com/projects/tether?utm\_source=CMC&utm\_campaign=AuditByCertiKLink)](https://www.certik.com/projects/tether?utm_source=CMC&utm_campaign=AuditByCertiKLink) > > [^(https://www.coingecko.com/en/coins/tether)](https://www.coingecko.com/en/coins/tether) > > [^(https://www.fairyproof.com/doc/111.pdf)](https://www.fairyproof.com/doc/111.pdf) > > [^(https://www.coingecko.com/en/coins/tether#markets)](https://www.coingecko.com/en/coins/tether#markets) > > [^(https://www.researchgate.net/publication/341245986\_Are\_stablecoins\_truly\_diversifiers\_hedges\_or\_safe\_havens\_against\_traditional\_cryptocurrencies\_as\_their\_name\_suggests)](https://www.researchgate.net/publication/341245986_Are_stablecoins_truly_diversifiers_hedges_or_safe_havens_against_traditional_cryptocurrencies_as_their_name_suggests) > > [^(https://www.researchgate.net/publication/339263534\_What\_is\_Stablecoin\_A\_Survey\_on\_Price\_Stabilization\_Mechanisms\_for\_Decentralized\_Payment\_Systems)](https://www.researchgate.net/publication/339263534_What_is_Stablecoin_A_Survey_on_Price_Stabilization_Mechanisms_for_Decentralized_Payment_Systems) > > [^(https://www.researchgate.net/publication/332458820\_Is\_Cryptocurrency\_a\_Hedge\_or\_a\_Safe\_Haven\_for\_International\_Indices\_A\_Comprehensive\_and\_Dynamic\_Perspective)](https://www.researchgate.net/publication/332458820_Is_Cryptocurrency_a_Hedge_or_a_Safe_Haven_for_International_Indices_A_Comprehensive_and_Dynamic_Perspective) > > [^(https://www.euromoney.com/article/2a8dpi4tnxahuu98a251c/fintech/cryptocurrencies-tether-is-open-to-providing-more-information)](https://www.euromoney.com/article/2a8dpi4tnxahuu98a251c/fintech/cryptocurrencies-tether-is-open-to-providing-more-information) > > [^(https://assets.ctfassets.net/vyse88cgwfbl/1np5dpcwuHrWJ4AgUgI3Vn/e0dac722de3cea07766e05c52773748b/Tether\_Assurance\_Consolidated\_Reserves\_Report\_2022-03-31\_\_3\_.pdf)](https://assets.ctfassets.net/vyse88cgwfbl/1np5dpcwuHrWJ4AgUgI3Vn/e0dac722de3cea07766e05c52773748b/Tether_Assurance_Consolidated_Reserves_Report_2022-03-31__3_.pdf) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

coinfeeds-bot

tldr; BlackRock's tokenized fund, BUIDL, has reached over $500 million in assets under management (AUM) in just three months. Issued on the Ethereum blockchain as an ERC20 token, BUIDL enables Web3 institutions to access real-world returns without complex processes. Partnerships with Securitize, Circle, and Ondo Finance have been key to its success, offering features like real-time exchanges of BUIDL for USDC and creating a money market fund product, OUSG. This growth indicates strong institutional interest in tokenized financial products, despite regulatory and compliance challenges. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

fartiestpoopfart

yeah. sitting back, buying, and holding was my plan all along anyway but i figured if i get to a point where i've made solid profit already and am not worried about timing the market or selling too early, i'd be happy to sell a small percentage for usdc, stake it, and just wait for the inevitable dump. if it never dumps then that means the rest of my portfolio is healthy i guess so it's not that big a loss ha. I understand that it's not worth taking big risks just because i'm impatient but i have been considering ways that i could at least take **some** profits this cycle and stake it in USDC to sit on and forget about until the market dumps again. dunno.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

coinfeeds-bot

tldr; Aerodrome introduces a new liquidity pair, SPOT/USDC. SPOT is a low-volatility, mean-reverting asset derived from AMPL, designed to be durable, decentralized, and inflation-resistant. Pairing SPOT with USDC aims to generate yield with low downside risk and real yield, leveraging SPOT's unique properties for potentially higher trade volumes and magnified real yields in decentralized finance. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

biba8163

It's almost as if XRP is a pump and dump token that noobs keep falling over and over again for and now Gensler has become a scapegoat for why it also dumps... - XRP was $0.63 at the beginning of this year - XRP was $0.80 in July 2023 when they won the SEC case and bagholders were saying they were gone to moon once they win - XRP was $3.50 in 2018 **2016** > "We’ve reached a tipping point where financial institutions are moving beyond blockchain experimentation and projects to real world applications that are driving significant bank-to-bank volume,” said Ripple CEO and co-founder Chris Larsen...Ripple’s growing, global network includes 12 of the top 50 global banks, 10 banks in commercial deal phases, and over 30 bank pilots completed, among many others also using Ripple’s solutions. https://web.archive.org/web/20220518122127/https://ripple.com/ripple-press/financial-institutions-join-ripples-global-network/ Ripple **deleted** this page and all the hype and lies https://ripple.com/ripple-press/financial-institutions-join-ripples-global-network/ **2017** > Forty Seven Japanese Banks Move Towards Commercial Phase Using Ripple...Over 90 banks globally are working with Ripple, including top global banks such as Santander, Bank of America and Axis Bank. http://web.archive.org/web/20170603165808/https://ripple.com/insights/forty-seven-japanese-banks-move-towards-commercial-phase-using-ripple/ Ripple **deleted** this page and all the hype and lies **2018** > "major banks will use XRP as a liquidity tool in 2018" and "an order of magnitude dozens of banks" will be using XRP in 2019 - Brad Garlinghouse https://www.cnbc.com/2018/06/05/cnbc-interview-with-brad-garlinghouse-ripple-ceo.html Look at the JP Morgan about how CDBC/Stablecoins is "UNLOCKING $120 BILLION VALUE IN CROSS-BORDER PAYMENTS" and it tells you why XRP won't be adopted by banks: - **High volatility of XRP leading to limited willingness from banks in using it to facilitate payments** - **Relatively high costs owing to spreads between fiat and XRP** https://www.jpmorgan.com/onyx/documents/mCBDCs-Unlocking-120-billion-value-in-cross-border-payments.pdf?trk=article-ssr-frontend-pulse_little-text-block In 2024, **Ripple itself also says Stablecoins provide revolutionary ways to transfer value across borders and reshape the financial world and Ripple is now using investor money to buy a company to launch their own stablecoin** > Stablecoins like USDC offer a revolutionary pivot... efficiently transfer value across borders, bypassing traditional banking systems and eliminating many associated risks....Lower transaction costs compared to traditional banking. As low-fee alternatives to traditional money transfer methods, stablecoins can facilitate global transfers without foreign exchange fees. As the integration of stablecoins into the banking system continues, they promise to reshape the financial world, offering enhanced efficiency, inclusivity and innovation. This evolution is not just about adopting new technologies but is a step towards a more interconnected and resilient global financial system. https://ripple.com/reports/the-functional-evolution-of-digital-assets.pdf *This was after telling them in 2019 that StableCoins backed by U.S Dollar don't solve ANY problems and that XRP is the Standard bridging currency used for money transfers and remittance.* > If you give them a dollar for deposits, they’ll give you a JPM Coin that you can then move within the JPM ledger. Wait a minute, just use the dollar!" he said. "I don’t understand. If you’re just moving within the JPM ledger, and it has to be dollar-to-dollar, one-to-one backing, I don't understand what problem that solves. - Brad Garlinghouse in 2019 https://www.coindesk.com/markets/2019/03/06/ripple-ceo-brad-garlinghouse-on-jpm-coin-other-banks-wont-use-it/

ARoundForEveryone

Gemini is providing a service. You're more than welcome to freely trade USDC or any other crypto if you build the infrastructure and run the servers necessary to do so. You chose not to do that, so you pay for the privilege of using *their* infrastructure. I'm not defending Gemini in particular - their fees are not always in line with other exchanges. But you don't have to use them. You don't, technically, have to use any exchange at all in order to transact value in the crypto space. But most of us have chosen the route where we *do* need to do that - exchanges and hard- or software wallets and buy/sell prices. But it's perfectly fine if you want to use your own software and infrastructure, connect to the network and blockchain, and do things yourself. And no, it's not "literally" stealing. There's no literature, and they didn't take anything from you that you didn't agree to. Their fees might be high, but it's neither literal nor theft. And I'm not defending just Gemini here. Same goes for Kraken or Coinbase or Binance. Their terms are published and their terms are agreed to before anyone makes any trades. What, exactly, is the problem?

deviantgoober

Is that dude confusing USDC with Tether? I really think he is lol.

Smiling_Jack_

I made some rather profitable plays going against the grain on Curve Finance during the USDC 'depeg' when SVB was collapsing, and also the stETH/ETH asymmetry prior to that.

Astramie

Apologies for the long comment, but for those who are genuinely curious... I use Cardano to stake, buy nfts, make swaps, DCA, and vote for projects. You can also mint an nft to link with an email address, or mint an nft as a handle so you can receive txs using a more user friendly address, like Eth domain names. There's DePIN projects like Iagon, which is like Filecoin, to store your data with a decentralized storage provider. They also host dapps and are working on decentralized compute services. There's NFT royalty platforms for creators like NEWM, Books, and Jpgstore. You can also lend NFTs. Some lending protocols even offer double yield on lending since the liquidity pools are staked. It is kind of like staking liquid staking derivative tokens, but much simpler. You don't have to exchange your ADA for stADA and potentially trigger a taxable event. Also let's say your order has not yet executed at the limit price you set, it can still earn staking rewards while the order is pending. Staking is liquid and self-custody, less middlemen and more ownership for the user. There's RWA projects like Palmyra and Empowa. The ecosystem is growing much faster now that infra and tooling is improving. Community built their own languages like Aiken and Opshin that are based on more popular languages like Typescript and Python, which compiles down to Haskell-based Plutus. You don't need to know Haskell anymore. Although you do need to know how to build on an extended UTXO model, but it is getting easier as more devs open source their code and share their designs. There's even a new batcherless AMM design that got funded this Catalyst round, and designs are rapidly adapting especially with Plutus V2 and V3 now with Chang upgrade, enabling zk primitives support on the L1. There's also new L2's on the horizon that offer unique benefits due to UTXO's deterministic properties like way cheaper fraud-proofs and better mobility between L1 and L2. There's also Leios and Peras to make the L1 faster. Hydra has interesting Catalyst proposals this round as well. The one thing I wish I could use Cardano for is stablecoin stuff. They have home grown stablecoins that are algorithmic and fiat backed, but they don't have the more established ones like USDC and USDT with higher liquidity, stability, and connections. MyUSD on Cardano is backed by USDC and USDT. There are also ways to bridge over USDC using Wanchain. Your implication is right, it is relatively a small ecosystem, a small island compared to the others. But it's fast growing. It's important to note that it is growing without Ethereum's network effect and heavy VC support. But interoperability is increasing with the recent Plutus V3 upgrade, that makes it more interoperable with Ethereum, and other developments like Cardano's integration with Cosmos. There's also Polkadot's Substrate tech powering Cardano's partnerchains. Cardano devs are also bridging the knowledge gap between them and Bitcoin devs with Fluidtokens and Maestro sharing protocol designs. It appears that this cycle, the alpha on Cardano is on Twitter, not on Reddit. Here's a few recent tweets from non-Cardano people. [https://x.com/CryptoConan/status/1811416874552611129](https://x.com/CryptoConan/status/1811416874552611129) [https://x.com/NftswithDiz/status/1813229438370259276](https://x.com/NftswithDiz/status/1813229438370259276) [https://x.com/TannerCartier/status/1813167238599655792](https://x.com/TannerCartier/status/1813167238599655792) [https://x.com/ZKDID\_/status/1799400337612190153](https://x.com/ZKDID_/status/1799400337612190153) Some recent posts to show typical daily chatter. [https://x.com/CardanoRami/status/1805971403675779203](https://x.com/CardanoRami/status/1805971403675779203) [https://x.com/Padierfind/status/1813519559703335109](https://x.com/Padierfind/status/1813519559703335109) [https://x.com/zkFold/status/1813271373802053835](https://x.com/zkFold/status/1813271373802053835) [https://x.com/FluidTokens/status/1813247448015307080](https://x.com/FluidTokens/status/1813247448015307080) [https://x.com/cosmos/status/1806357065960407485](https://x.com/cosmos/status/1806357065960407485) [https://x.com/ZengateGlobal/status/1803850888085189072](https://x.com/ZengateGlobal/status/1803850888085189072) and more... [https://x.com/sharlhuskens/status/1803442866280341529](https://x.com/sharlhuskens/status/1803442866280341529) [https://x.com/VioletNoRegarde/status/1805955713111670974](https://x.com/VioletNoRegarde/status/1805955713111670974) [https://www.youtube.com/watch?v=y4txesKsL\_M](https://www.youtube.com/watch?v=y4txesKsL_M) [https://x.com/ore\_times\_3/status/1810691719848952084](https://x.com/ore_times_3/status/1810691719848952084) [https://x.com/HouseOfTitans\_/status/1811829651121000663](https://x.com/HouseOfTitans_/status/1811829651121000663) [https://x.com/Omen4Omen/status/1804855019864207402](https://x.com/Omen4Omen/status/1804855019864207402) [https://x.com/MoparGirls/status/1813180347494113438](https://x.com/MoparGirls/status/1813180347494113438)

Oheson

Cardano needs native USDC or USDT. The tech is solid but they will not get a killer app until they do.

ulptthrowaway2016

Holding till 10b at the very least. Staki stress ya kutrade. Lakini niko na mita zingine tano kwa USDC waiting for another drop so I can either stack more WIF or see if PEPE looks good

HardTruthssss

If USDT and USDC are the same censoring shit then I am going for USDC because it has lower chances to depegging from the dollar.

CRISPR-Cas9-Child

Sorry for the misphrasing. I got back 5.01029 USDC when I invested 5.01 USDC (in ten minutes). Profit is 0.00029 USDC which is a huge proportional gain from lending. You can make the math and it adds to 300% in a year assuming they paid it annually. Although if they pay it every minute it is much higher reward, at least what I assume. But having only lent for about ten minutes makes the calculation unnaccurate.

argidev

I keep my funds on separate wallets, each serving it's own purpose. Yesterday I sent $640 from my Cash wallet to my Portfolio, only to see a transaction I didn't regonise, happen 1 minute later. I basically recieved a very small amount of USDC from an address that has the first and last 4 digits of the address, identical to my Portfolio account. The scammers are basically trying to take advantage of users like me and other who are not paying attention, by introducing a similar looking address in their history, hoping I would select it for my next transfer. So pay extremelly close attention to the wallets you're sending funds to, as you might think you're sending funds to your own account, but you might accidentally send them to a scammer who managed to sneak in an address that mimics yours.

Every_Hunt_160

USDC is highly centralised while USDT is shady as hell, so that's not a big win for me Legitimate cryptos like BTC and Eth on the other hand..

advias

Technically, your Bitcoin can be "prevented" due to regulations requiring miners to avoid specific transactions from specific wallets. This can be mitigated though. Not nearly as insane as having a blacklist on a smart contract like USDC does

biba8163

Here are some bookmarks and saves. **2016** > "We’ve reached a tipping point where financial institutions are moving beyond blockchain experimentation and projects to real world applications that are driving significant bank-to-bank volume,” said Ripple CEO and co-founder Chris Larsen...Ripple’s growing, global network includes 12 of the top 50 global banks, 10 banks in commercial deal phases, and over 30 bank pilots completed, among many others also using Ripple’s solutions. https://web.archive.org/web/20220518122127/https://ripple.com/ripple-press/financial-institutions-join-ripples-global-network/ Ripple scammers **deleted** this page and all the hype and lies https://ripple.com/ripple-press/financial-institutions-join-ripples-global-network/ **2017** > Forty Seven Japanese Banks Move Towards Commercial Phase Using Ripple...Over 90 banks globally are working with Ripple, including top global banks such as Santander, Bank of America and Axis Bank. http://web.archive.org/web/20170603165808/https://ripple.com/insights/forty-seven-japanese-banks-move-towards-commercial-phase-using-ripple/ Ripple scammers **deleted** this page and all the hype and lies **2018** > "major banks will use XRP as a liquidity tool in 2018" and "an order of magnitude dozens of banks" will be using XRP in 2019 - Brad Garlinghouse https://www.cnbc.com/2018/06/05/cnbc-interview-with-brad-garlinghouse-ripple-ceo.html Look at the JP Morgan about how CDBC/Stablecoins is "UNLOCKING $120 BILLION VALUE IN CROSS-BORDER PAYMENTS" and it tells you why XRP won't be adopted by banks: - **High volatility of XRP leading to limited willingness from banks in using it to facilitate payments** - **Relatively high costs owing to spreads between fiat and XRP** https://www.jpmorgan.com/onyx/documents/mCBDCs-Unlocking-120-billion-value-in-cross-border-payments.pdf?trk=article-ssr-frontend-pulse_little-text-block In 2024, **Ripple itself also says Stablecoins provide revolutionary ways to transfer value across borders and reshape the financial world and Ripple is now using investor money to buy a company to launch their own stablecoin** > Stablecoins like USDC offer a revolutionary pivot... efficiently transfer value across borders, bypassing traditional banking systems and eliminating many associated risks....Lower transaction costs compared to traditional banking. As low-fee alternatives to traditional money transfer methods, stablecoins can facilitate global transfers without foreign exchange fees. As the integration of stablecoins into the banking system continues, they promise to reshape the financial world, offering enhanced efficiency, inclusivity and innovation. This evolution is not just about adopting new technologies but is a step towards a more interconnected and resilient global financial system. https://ripple.com/reports/the-functional-evolution-of-digital-assets.pdf *This was after scamming investors and telling them in 2019 that StableCoins backed by U.S Dollar don't solve ANY problems and that XRP is the Standard bridging currency used for money transfers and remittance.* > If you give them a dollar for deposits, they’ll give you a JPM Coin that you can then move within the JPM ledger. Wait a minute, just use the dollar!" he said. "I don’t understand. If you’re just moving within the JPM ledger, and it has to be dollar-to-dollar, one-to-one backing, I don't understand what problem that solves. - Brad Garlinghouse in 2019 https://www.coindesk.com/markets/2019/03/06/ripple-ceo-brad-garlinghouse-on-jpm-coin-other-banks-wont-use-it/

Adventurous-Ad-101

Use the wallet IDs within your link and track their Algorand movements using one of the explorers (http://allo.info). You’ll see Algo moving monthly to exchanges or becoming USDC and exiting via Circle until ~March 2024.

Adventurous-Ad-101

Check out what the commits are against. TVL websites don’t count $50mil in rental properties paying users daily rent and supported by token/USDC liquidity pools for defi & liquid trading. They don’t count $60mil in liquid governance or $5mil in Gold onchain. But, they will count $1m illiquid LP that can’t be moved due to scammers draining one side of the pool as running up the price. Every metric can be gamed. Question isn’t can it, question should be has it.

CointestMod

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

SamsungGalaxyPlayer

The proposed OAv2 standard is asset-agnostic just like OAv1 since records are stored as DNS TXT records (instead of in the blockchain, like with ENS*), and these records are purposefully in a format to allow any asset to be used with them (unlike solutions aimed at only one blockchain, which might be prefixed by something like `bitcoin:`). Example OAv1 records: > oa1:btc recipient_address=1FhnVJi2V1k4MqXm2nHoEbY5LV7FPai7bb; recipient_name=Monero Development; > > oa1:xmr recipient_address=888tNkZrPN6JsEgekjMnABU4TBzc2Dt29EPAvkRxbANsAnjyPbb3iQ1YBRk1UXcdRsiKc9dhwMVgN5S9cQUiyoogDavup3H; recipient_name=Monero Development; Example OAv2 records: > oa2 btc:btc address=bip352:sp1qqfk0ag4gmq87agdy8lawrlt2mf3p8myhkuxgp5s7kdck4ywwg7mjjqc2wmmtfddvevmjnlv4klmgsx4g79rr998d20r5vmxera5f2a54nu5h496v; > > oa2 usdc:base address=0x4838B106FCe9647Bdf1E7877BF73cE8B0BAD5f97; > > oa2 xmr address=888tNkZrPN6JsEgekjMnABU4TBzc2Dt29EPAvkRxbANsAnjyPbb3iQ1YBRk1UXcdRsiKc9dhwMVgN5S9cQUiyoogDavup3H; OAv2 is more flexible because it supports priority records (eg: please pay me USDC on BASE but everything else on POLY unless the sender only supports the ETH network, then ETH) and metadata records (images, usernames, descriptions, etc). It allows for optional flexibility and thoroughness. These more robust options are detailed in the GitHub pull request that I linked. \* ENS has some implementations that use DNS TXT records as well. They've come full circle, lol.

nayan742

That is because during the sign up process within the application, the trucker will have to provide a wallet address or obtain a digital/physical Visa debit card by opening a Coinbase account (all done through the sign up process to make it as streamlined as possible). For the trucker, its no different than opening a new bank account - this process is very similar, if not simpler, than what they are used to doing now when factoring invoices (which is our goal). Since we are working with USDC, funding that goes back to the trucker will immediately land on their debit card for immediate use where ever Visa debit is accepted (which is almost anywhere they go) and if they want, it can be transferred without any fee (since it is USDC) to their bank account. As we ramp up and bring in more volume through the platform (more truckers mean more new Coinbase accounts and dollars flowing through Coinbase), we think we could eventually be in a position to speak to Coinbase to make the process as easy as possible for the truckers.

maxintos

But they are buying USDC. It sounds like they want to buy dollars, but because of restrictions they go with USDC. It's funny how on this sub people believe BTC will replace the dollar and how horrible and outdated the dollar is, but then the real world users of crypto use crypto to get their hands on dollars.

usercos187

USDT, USDC, USDP, are centralized stable tokens and can be frozen. DAI is the only stable token which can't be frozen.

usercos187

yes. Tehther can freeze any USDT tokens. Circle can freeze any USDC tokens. that is why it is better to use different wallets and use DAI when possible.

noviwu97

Most of you don't know that USDC can be frozen too

Every_Hunt_160

In fact it's still the biggest market cap stablecoin with nobody able to compete against its place Hard to break a monopoly when every single exchange out there uses Tether. Even Binance stopped using USDC for whatever reason.

_Commando_

They can just like USDC can as well.

Astramie

That's not true, Cardano has a thing called native assets and not smart contract tokens. They are actual tokens like ADA, BTC, or ETH that live on the ledger. There are no claw back or freeze mechanisms. In fact, USDM on Cardano is a new fiat backed stablecoin like USDC, except it is a digital dollar stored on the main ledger, not on the issuer's ledger, which the issuer controls. Native assets are much more aligned with cyberpunk ideals, but it concerns governments and regulators the same way they are concerned about bitcoin. They want control when criminal activity is involved, which I think many of us would agree is a good use of that power. We trust that centralized entities don't abuse their control. Unfortunately, that is reality so Cardano also has [CIP-113](https://cardano.ideascale.com/c/idea/120311) to give developers an option to build programmable tokens. It's actually a bit controversial in the community as you can imagine, it's like a step back in ideals. But as long as people still have a choice, that's what matters I think.

CointestMod

#DeFi Pro-Arguments Below is a DeFi pro-argument written by noxtrifle. > DeFi, or decentralized finance, is a method of transacting without the need for an intermediary, and in many ways replaces the traditional banking systems. Instead, a smart contract at the core of the app manages the whole system. Since it is the code, instead of a central authority, which manages the system, decentralisation is ensured. Thus, there are several benefits of DeFi protocols: > > * **Not subject to the limitations of traditional banking** > * [The only barriers to entrance of DeFi](https://cointelegraph.com/defi-101/defi-a-comprehensive-guide-to-decentralized-finance) are an internet connection and a crypto wallet. With just those two, one can access staking, lending, borrowing, and trading; among many more. > * Furthermore, since DeFi is governed by a smart contract and (generally) has no downtime, users are able to access their DeFi balances around the clock, without waiting for the tedious processes of, for example, waiting for a bank to open, applying for a loan, having a discussion with a loan officer, and being accepted. With DeFi, all this can be done in mere seconds. > * **Much more attractive rates for investors** > * Currently, the yield for staking or lending cryptocurrencies on DeFi is [generally above 3-4%](https://www.ecb.europa.eu\/pub/financial-stability/macroprudential-bulletin/focus/2022/html/ecb.mpbu202207_focus1.en.html), which is higher than the interest rates of most developed countries — making DeFi protocols attractive for investors who want all the benefits of cryptocurrencies along with the security offered by traditional banks. > * Stablecoins such as USDC and USDT have even higher yields (5-6% on average) and offer the same stability as the US Dollar, making DeFi rewards more attractive than most large banks. > * This results in the immediate rewarding of the most generous protocol: as more people become aware of the high yields offered, the protocol grows in size and is able to offer more services. However, such expansion will certainly cause yields to decrease. > * **Numerous use cases** > * **These include:** > * **Traditional transacting:** peer-to-peer transfers of capital are already facilitated by cryptocurrencies, and some projects [like Flexa](https://flexa.network/currencies/) allow for off-chain, in-house transfers at little to no cost. > * **Decentralized exchanges:** Decentralised exchanges, such as dYdX and Pancakeswap, provide the exact functionality of centralised exchanges, except that KYC is not required and a smart contract governs all functionality. > * **Stablecoins:** DeFi protocols give stablecoins new meaning by allowing them to be staked or lent for interest, which has very likely benefitted stablecoin adoption immensely. > * **NFTs, Yield Harvesting, Liquidity Providing, and many more.** ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_defi) to find submissions for other topics.

seb7mad

The wording is weird. Then can freeze (prevent from being transferred) USDT tokens from any wallet, and most ERC-20 tokens works this way (USDC, WBTC, etc.) No one can freeze native ETH or other tokens of they don’t control the contract

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Ethereum Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Ethereum Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > ​ > > # Ethereum: Use-case driving value > > Ethereum is a very valuable Blockchain. This blockchain is driven by innovation and utility. To understand what makes Ethereum such a valuable eco-system we need to discuss the inner-working of Ethereum. > > # Introduction: Ethereum explained > > According to [Ethereum.org](https://Ethereum.org) : > > >What is Ethereum? > > Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet. > > So the topic driving this discussion is badly worded. If we are discussing top coins then we should discuss Ether and not Ethereum. Since Ethereum is such an interesting ecosystem I will treat this argument as a pro Ethereum post. I'd love to see the discussion focused on Ether next time. > > Ethereum is not managed by a single entity nor managed by the Ethereum Foundation but is managed through a decentralized process explained [In their governance page](https://ethereum.org/en/governance/). > > Time for some metrics: Ethereum is currently trading north of 1750 $ and has a circulating supply of 122 millions ETH for a Market cap at around 218 billions > > Let's go back to the quote: "Ethereum is a technology that's home to digital money". This point is important. Ether is not the only coin which is using the Ethereum blockchain. A lot of value on the Ethereum Blockchain is not in Ether coins. This will be discussed further down. Ethereum is also home to global payment, so Ether and other cryptocurrencies can be used to settle transactions between P2P in a permissionless way. > > Applications called Dapps exist on the blockchain. We are going to discuss all of these aspects. We are also going to tackle NFTs on the Ethereum Blockchain. > > Ethereum is also completed by L2s. These are going to be mentioned. > > Ethereum has been switched from POW to Asic resistant POW to POS. These are going to be discussed. > > ​ > > # Ethereum: Home to digital money. > > Ethereum strength is that the blockchain is home to many cryptocurrencies. If gas fees are paid in Ether, many tokens have billions circulating in the Ethereum ecosystem. A quick look at Etherscans reveal how strong the ethereum ecosystem is. > > According to [EtherScan](https://etherscan.io/tokens) the blockchain has 40 Billions $ in USDT, 46 Billions in USDC and 7 Billions $ in Wrapped BTC. The market cap of Ether may be around 200 billions but the on chain value of assets in the Ethereum Blockchain is far higher. > > All of these USDT and USDC are stablecoins which can be used for transactions. In fact, it can be used for P2P transaction in a permissionless way but also to buy stuff from businesses. [Here is a list of business accepting USDT (which exists in the Ethereum blockchain)](https://nowpayments.io/blog/businesses-accepting-tether) and [Here is a list of business accepting directly Ethereum](https://www.analyticsinsight.net/top-10-companies-accepting-ethereum-as-a-payment-method-in-2022/) > > These classical transactions are not the only use of the Ethereum Blockchain: Dapps and NFT are also thriving ! > > # Ethereum: Home to dapps and NFTs > > Ethereum is home to a lot of different applications: Marketplaces, exchanges, defi, wallets, games... > > These application are different because they are called dapps: > > >A decentralised application (DApp,\[1\] dApp,\[2\] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system.\[3\] > > [Wikipedia Dapps](https://en.wikipedia.org/wiki/Decentralized_application) > > To give a glance to these dapps you can head to this website tho be wary of the first dapp listed being an advertisement for shady businesses (I haven't found a better website to source dapps) [Here you go](https://dappradar.com/rankings/protocol/ethereum/1) > > While I don't believe in the current state of NFT technology being viable (See my write up in favor of NFT speaking about the future of this technology), we have to take into account that even after losing 60% of their value there is still 3 Billions USD in NFTs in the Ethereum Blockchain [Source](https://cointelegraph.com/news/ethereum-nft-collections-lost-nearly-60-of-their-market-cap-in-2022-report) > > # Ethereum: Layers of goodness. > > Ethereum can be a bit expensive for people, this is why it was layered. There are side chains existing just to be cheaper than Ethereum while offering bridges to and from Ethereum. For example Polygon. > > >Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. It caters to the diverse needs of developers by providing tools to create scalable decentralized applications (dApps) that prioritize performance, user experience (UX), and security. > > So if you want to be able to evaluate Ethereum you need to go and read about the biggest layer 2 pro and cons. > > [A small list of Ethereum layer 2 given by Ethereum.org](https://ethereum.org/en/layer-2/) > > # Ethereum: Evolve to thrive > > Ethereum has been a rapidly evolving ecosystem. It has seen the evolution of mining from GPU to Asic. In order to not become reliant on Asic mining, Ethereum was made Asic resistant. This created other problems: A pressure on the GPU market but also a concern for energy efficiency. In order to improve the footprint but also reduce the fees, Ethereum was made to transistion from POW to POS. Proof of stake is a protocol in which you need to stake coins to run a node in the network. > > This shows an ability to look ahead and to tackle challenges. > > # Conclusion: Ethereum is a rapidly evolving ecosystem which has a lot of value in it. Since Ether is their native coin, all of this impacts Ether's value. > > This is where we go back to the TOP COIN aspect of this write up. Everything I have said has an impact on the value and use of Ether. If you believe in the future of the Ethereum Blockchain, you can go ahead and look a bit more into Ether. If you don't believe in the Ethereum Blockchain then you should try to find a competitor. > > Just know that Ethereum is trying to become deflationary and that their economic outlook seems on par with good cryptos. > > Ethereum is one of the techs of the future and this essay has shown some of the most important aspects of it. > > Have fun ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p71b/top_coins_ethereum_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Ethereum) to find arguments on this topic in other rounds.

biba8163

Ripple has been scamming people with the news that banks are on the verge of adopting XRP since 2016. People are still falling for this 8 years later. **2016** > "We’ve reached a tipping point where financial institutions are moving beyond blockchain experimentation and projects to real world applications that are driving significant bank-to-bank volume,” said Ripple CEO and co-founder Chris Larsen...Ripple’s growing, global network includes 12 of the top 50 global banks, 10 banks in commercial deal phases, and over 30 bank pilots completed, among many others also using Ripple’s solutions. https://web.archive.org/web/20220518122127/https://ripple.com/ripple-press/financial-institutions-join-ripples-global-network/ Ripple scammers **deleted** this page and all the hype and lies https://ripple.com/ripple-press/financial-institutions-join-ripples-global-network/ **2017** > Forty Seven Japanese Banks Move Towards Commercial Phase Using Ripple...Over 90 banks globally are working with Ripple, including top global banks such as Santander, Bank of America and Axis Bank. http://web.archive.org/web/20170603165808/https://ripple.com/insights/forty-seven-japanese-banks-move-towards-commercial-phase-using-ripple/ Ripple scammers **deleted** this page and all the hype and lies **2018** > "major banks will use XRP as a liquidity tool in 2018" and "an order of magnitude dozens of banks" will be using XRP in 2019 - Brad Scamminghouse https://www.cnbc.com/2018/06/05/cnbc-interview-with-brad-garlinghouse-ripple-ceo.html Look at the JP Morgan about how CDBC/Stablecoins is "UNLOCKING $120 BILLION VALUE IN CROSS-BORDER PAYMENTS" and it tells you why XRP won't be adopted by banks: - High volatility of XRP leading to limited willingness from banks in using it to facilitate payments - Relatively high costs owing to spreads between fiat and XRP https://www.jpmorgan.com/onyx/documents/mCBDCs-Unlocking-120-billion-value-in-cross-border-payments.pdf?trk=article-ssr-frontend-pulse_little-text-block In 2024, Ripple itself also says Stablecoins provide revolutionary ways to transfer value across borders and reshape the financial world and Ripple is now using investor money to buy a company to launch their own stablecoin > Stablecoins like USDC offer a revolutionary pivot... efficiently transfer value across borders, bypassing traditional banking systems and eliminating many associated risks....Lower transaction costs compared to traditional banking. As low-fee alternatives to traditional money transfer methods, stablecoins can facilitate global transfers without foreign exchange fees. As the integration of stablecoins into the banking system continues, they promise to reshape the financial world, offering enhanced efficiency, inclusivity and innovation. This evolution is not just about adopting new technologies but is a step towards a more interconnected and resilient global financial system. This was after scamming investors and telling them in 2019 that StableCoins backed by U.S Dollar don't solve ANY problems and that XRP is the Standard bridging currency used for money transfers and remittance. > If you give them a dollar for deposits, they’ll give you a JPM Coin that you can then move within the JPM ledger. Wait a minute, just use the dollar!" he said. "I don’t understand. If you’re just moving within the JPM ledger, and it has to be dollar-to-dollar, one-to-one backing, I don't understand what problem that solves. - Brad Garlinghouse in 2019 https://www.coindesk.com/markets/2019/03/06/ripple-ceo-brad-garlinghouse-on-jpm-coin-other-banks-wont-use-it/

SOL_ETH_BTC_XLM_XRP

Glad to hear I’m not the only one 👊🏻 I will but it’ll probably be a while till I do this. I have a goal I want to reach before I’m comfortable toying around with money essentially. I want to have $30k USDC saved to DCA into spot altcoins when BTC tanks. Rn I’m at ~$15k USDC so I essentially want to save up $15k more before I try

Pass-the-Jam

I’m very familiar with lightening. You’re not listening to David Marcus’s point? His whole point is it is the transfer behind the scenes. Businesses and customers are still receiving fiat on the end of the transaction. It doesn’t matter if there is a BTC transfer or a USDC transfer in the middle.

Kallen501

USDC is sketch. I don't trust Tether, but Circle is a bunch of hedge fund scammers.

kaliki07

USDC is very cheap /s

graytleapforward

Cardano has good projects but desperately needs USDC and definitely needs to distance itself from Hoskinson

Alex0589

I can’t understand why anybody would use USDT considering how sketchy it is when USDC exists. The faster USDT’s market share drops to non critical levels, the better. I’m not saying it’s guaranteed to collapse, but: 1. they can’t be asked to get audited 2. they mint billions to buy bitcoin, which makes the whole ecosystem look bad because you have a non audited crypto saying we are pegged 1:1 with the dollar minting billions just to prop up btc price(it doesn’t even work, it’s beyond me why they do it)

xen91

I have bought xmr on KuCoin and sent it to monero gui wallet, just keep an eye on the fees. I think KuCoin still allow this. I also buy USDC on uphold or LTC on [ramp.network](http://ramp.network), send to wallet and then swap on [swapspace.co](http://swapspace.co) or similar. either way it's not all that easy these days.

coinfeeds-bot

tldr; Ethereum leads the stablecoin market with a supply of $85 billion, reinforcing its dominance in the decentralized finance (DeFi) space. Tron follows with a $60 billion supply, favored for its low transaction fees and efficiency. Solana's stablecoin supply has reached $3.3 billion, driven by USDC inflows and PayPal’s PYUSD adoption. Ethereum's broad DeFi ecosystem and significant stablecoin inflows consolidate its position as a key player in cryptocurrency liquidity. The stablecoin market is witnessing rapid growth, with Ethereum at the forefront, followed by Tron and Solana. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Mr-Douglas

Its like Binance bad Coinbase good - now again Chinese driven USDt bad US driven USDC good … obviozs games

One_Boot_5662

Its OK, they can just print more. How anyone has been hoodwinked into thinking shitcoins like USDT/USDC are crypto is beyond me.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Blendzi0r. > *First published on: \[*[30.09.2021](https://np.reddit.com/r/CryptoCurrency/comments/og1s24/rcryptocurrency_cointest_top_10_category_tether/hewpzqt/)*\]* > > *Last edited on: 19.09.2022* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the largest stablecoin. \[1\], \[2\], \[3\] > > # Pros > > **It’s the most popular and oldest stablecoin** > > Tether was launched in 2014 as Realcoin and renamed to Tether the same year \[1\]. It’s the first successful stablecoin. For many years, it had completely dominated the stablecoins market and despite the recent growth of other stablecoins, mainly USDC, Tether is still the biggest and most popular stablecoin. As of September 2022, its market cap shrinked against USDC's market cap in recent months, but its volume still tends to be much higher (according to coinmarketcap, on 19.09.2022 it was 12x(!) higher). In fact, USDT’s trading volume is unmatched by any other cryptocurrency. \[1\] > > It is also worth pointing out that more than 80% of stablecoins launched in 2015 are now gone and USDT is still here, despite its bad press. \[4\] > > **It has most trading pairs** > > The market cap and volume speak for themselves – Tether is the most popular stablecoin. There are very few exchanges that don’t accept USDT and all major coins have trading pairs with USDT. Even Coinbase, which is responsible for Tether’s rival stablecoin – USDC, lists Tether on its exchange (since May 2021). \[5\] > > It is also backed by several international currencies and, therefore, allows people in different countries purchase coins that they otherwise wouldn’t be able to get. > > **It was declared dead many times but, just like Bitcoin, it's alive and kicking** > > There are many controversies around Tether. Perhaps the most concerning one is whether USDT has its reserves fully backed. Many critics believe that Tether isn’t fully backed and if many investors were to redeem tethers at the same time, there would be no liquidity \[6\]. Situations when people redeem tokens en masse usually should happen during market crashes. In the last 4 years we had three significant market crashes – in 2018, in March 2020 and in May 2021. USDT survived all of them. > > It has also survived losing almost 25% of its market cap in a short time - from May to July of this year. > > **The latest breakdowns of the reserves is a step in the right direction** > > Tether had been criticized for lack of transparency (and rightly so) for many years. In May 2021, for the first time since 2014, Tether finally gave us an insight into their reserves. The first report was rather disappointing as it turned out that barely 3% of the reserves are made-up by cash. Moreover, 65% of the reserves were made-up by commercial paper and there were no details about the type of the commercial paper. \[7\] > > However, the reports from August and December 2021 looked much better \[8\]: cash and cash equivalents made up more than 80% of the reserves, more than 10% of which were cash and bank deposits, +/- 30% were treasure bills (they are considered very safe assets) and they provided more details – the reports included information about the rating and breakdown of maturity of the commercial paper and certificates of deposit. The reports were on pair with those of USDC. > > **USDT is centralized. But is it so bad in the case of a stablecoin?** > > Decentralization is essential for cryptocurrency. But so is replacing fiat. So is decentralization that important in the case of a stablecoin? > > The fact that USDT is centralized also allowed it to do good things on many occasions. It returned USDT sent to wrong addresses and cooperated with law enforcement officials and blocked/froze addresses that used USDT for illegal activities. \[9\], \[10\] > > ^(Sources:) > > ^(\[01\]) [^(https://en.wikipedia.org/wiki/Tether/(cryptocurrency)](https://en.wikipedia.org/wiki/Tether/(cryptocurrency)) > > ^(\[02\]) [^(https://tether.to/wp-content/uploads/2016/06/TetherWhitePaper.pdf)](https://tether.to/wp-content/uploads/2016/06/TetherWhitePaper.pdf) > > ^(\[03\]) [^(https://en.wikipedia.org/wiki/Stablecoin)](https://en.wikipedia.org/wiki/Stablecoin) > > ^(\[04\])[^(https://papers.ssrn.com/sol3/papers.cfm?abstract\\\\id=3835219)](https://papers.ssrn.com/sol3/papers.cfm?abstract\id=3835219) > > ^(\[05\]) [^(https://blog.coinbase.com/tether-usdt-is-now-available-on-coinbase-214f075deaa2)](https://blog.coinbase.com/tether-usdt-is-now-available-on-coinbase-214f075deaa2) > > ^(\[06\]) [^(https://www.theverge.com/22620464/tether-backing-cryptocurrency-stablecoin)](https://www.theverge.com/22620464/tether-backing-cryptocurrency-stablecoin) > > ^(\[07\]) [^(https://tether.to/wp-content/uploads/2021/05/tether-march-31-2021-reserves-breakdown.pdf)](https://tether.to/wp-content/uploads/2021/05/tether-march-31-2021-reserves-breakdown.pdf) > > ^(\[08\]) [^(https://tether.to/en/transparency/#reports)](https://tether.to/en/transparency/#reports) > > ^(\[09\]) [^(https://decrypt.co/41920/tether-uses-centralized-power-refund-million-usdt)](https://decrypt.co/41920/tether-uses-centralized-power-refund-million-usdt) > > ^(\[10\]) [^(https://cryptopotato.com/tether-freezes-1-7m-in-usdt-stolen-in-yearn-finance-exploit/)](https://cryptopotato.com/tether-freezes-1-7m-in-usdt-stolen-in-yearn-finance-exploit/) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

Abanikandy

This is not news, this will continue to trend down as more transparent stablecoins are issued (using services like Chainlinks Proof of Reserve - like USDP (paxos), USDC (circle), GHO (AAVE), and new major bank stables are launched).

coinfeeds-bot

tldr; Tether's USDT market share on centralized exchanges (CEXs) dropped from 82% to 74% in 2024, according to Kaiko's data. This decline is attributed to increased competition from other stablecoins like FDUSD and a growing demand for regulated options such as USDC, which reached a 12% market share. The implementation of Europe's MiCA regulation, favoring compliant stablecoins, has also impacted the market, leading to the delisting of non-compliant stablecoins like USDT for European users. This shift reflects a broader trend towards more transparent and regulated stablecoin options, with USDC emerging as a significant beneficiary. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Smiling_Jack_

Stablecoins are far more popular outside of Western countries. USDT volume dwarfs that of USDC, and I don't see that changing anytime soon.

raymv1987

USDC will become and remain king